Are Green Cryptos the Next Trend after Memes in 2023 as Ecoterra Nears $5M in Presale?
While the current FUD surrounding crypto is regarding the SEC suing crypto exchanges for selling securities, history often repeats itself, and the last bull market saw crypto prices plummet as Tesla dropped BTC payments due to environmental concerns.
Therefore, cryptos that take sustainable climate action could perform well next time the sustainability narrative arises. We have already seen the top altcoin, Ethereum, make efforts to become more environmentally friendly.
After years of planning and development, Ethereum became the first blockchain to switch its consensus mechanism. Essentially, this means the rules that valid Ethereum transactions must abide by changed.
The network upgrade was known as “The Merge”, as it merged two blockchains into one. Following the upgrade, Ethereum’s consensus mechanism shifted from Proof-of-Work to Proof-of-Stake.
The difference between the two consensus mechanisms is that Proof-of-Work relies on computational energy to secure a blockchain network, whereas monetary value secures Proof-of-Stake networks.
Needless to say, this makes the Ethereum chain significantly more environmentally friendly, aligning it with the Environmental, Social, and Governance (ESG) targets of institutional buyers.
Looking ahead, this could significantly improve the ETH price. However, there are plenty more ways blockchain can help climate action.
Ecoterra
Ecoterra is perhaps the most talking about green cryptocurrency right now. This is a trending presale crypto closing in on the $5 million total, showing huge faith from investors in the project.
The project has four main pillars, the main one being “Recycle2Earn”. The others are a used goods marketplace, a carbon offset marketplace, and an impact tracker profile for companies.
Recycle2Earn is a new concept that Ecoterra has developed. It will involve placing “Reverse Vending Machines” (RVMs) in stores and supermarkets globally. Users can then recycle their goods in the RVMs. to earn $ECOTERRA.
Ecoterra has already attained partnerships with household brands like Dr. Pepper, San Pellegrino, and Heineken. The partnerships will mean Ecoterra users can recycle these brands’ products in their RVMs.
The other three pillars of Ecoterra all relate to serving companies involved in the circular economy. Ecoterra leverages the benefits of blockchain, such as transparency and immutability, so that the public can track companies’ climate actions, ensuring they are doing what they say they are.
Investors are currently able to buy Ecoterra tokens for $0.00925 – a discount on the listing price of $0.01.
Chimpzee
Another upcoming green crypto at the moment is Chimpzee. While Ecoterra focuses on bringing new use cases to crypto, Chimpzee is revolutionizing existing blockchain use cases by making them more eco-friendly.
Several traders have hyped Chimpzee as one of the best green cryptos to buy. YouTuber Jacob Bury is bullish on the Chimpzee, highlighting in a recent video that the project presents huge potential for attracting new investors.
One of the reasons Chimpzee is proving so popular is that it integrates trending use cases while protecting the environment. The project will feature a Shop2Earn, Trade2Earn, and Play2Earn mechanism, as well as customized AI chimpanzee avatar NFTs.
Chimpzee has already taken initiatives to combat climate action. For example, just surpassed the $500K presale total raise mark, the project has pledged to plant 20,000 trees with the One Tree Planted charity. Additionally, 10% of the token’s total supply has been allocated to charity wallets.
Currently, in its stage 1 presale, CHMPZ is available to buy at $0.000625. However, the presale round is set to end in eight days, following which the price will rise to $0.00064. The IEO price is set at $0.00185, representing a 196% gain for investors who buy now.
Mooky
Mooky is quickly gaining notoriety as the best eco-friendly meme coin. With Pepe and other smaller meme coins exploding recently, traders have high hopes that the Mooky token could be next to perform well.
It is currently in its presale, having raised over $750K and already being noticed by multiple high-profile analysts. YouTuber Borch Crypto, who has 78K subscribers, highlighted the coin recently, touting it could be the next 100X presale gem.
According to the Mooky “Greenpaper”, Mooky is a DeFi token that aims to protect the environment. The token will let users vote on how the project helps save the environment. Therefore Mooky could become an attractive investment for conservationists and environmentalists in crypto.
The project will feature 1,000 “value-backed” NFTs that will grant holders access to the project’s “Ventures Club” and governance. Similarly to Chimpzee, Mooky will have a charity wallet, although Mooky’s allocation is 5%.
So far, the project has proven massively popular among its community, having already amassed over 12K Twitter followers and 3K Telegram members.
Currently, the presale is in stage 8 of 12, priced at $0.00000735, with the price increasing to $0.00003125 by the final round. The stage 12 price represents a 325% increase from its current valuation.
Ethereum
As mentioned, Ethereum has already taken considerable action in aligning with ESG targets. With Bitcoin showing no signs of transitioning to Proof-of-Stake, this could make Ethereum a more attractive investment for environmentally conscious institutional investors.
According to figures from Pre-sustainability, the transition from Proof-of-Work to Proof-of-Stake caused Ethereum’s energy usage to drop by 99.98%.
Also, a study from the CCRI (Crypto Carbon Ratings Institute) was highlighted by the Ethereum Foundation and shows the difference in energy usage between Ethereum and Bitcoin.
The study found that Bitcoin uses 131 TWh/yr in energy, whereas Ethereum PoS uses 0.0026 TWh/yr. This also means Ethereum uses energy less than Netflix, AirBnB, and PayPal, which are all regarded as ESG-friendly companies.
Both Ethereum and Bitcoin have market caps in the multi-billions, so institutional investors have a far more significant impact on price than retail.
Moreover, since Ethereum is the leading smart contract blockchain, with the highest TVL and most dApps, buying Ethereum enables investors to capture gains from a range of sustainable crypto protocols. This is known as the “Pick-and-Shovel” method, which many investors use for risk management and diversification.
We can also see from the chart below that Ethereum has followed a consistent uptrend against Bitcoin since 2019. Considering its environmental advantages against Bitcoin, the trend will likely continue looking ahead, with Ethereum potentially overtaking Bitcoin by market cap one day.
Algorand
Algorand is another cryptocurrency blockchain targeted toward sustainability. According to the Algorand website, the blockchain is carbon-negative, which is not something that can be said for Ethereum.
The website also says an Algorand transaction “uses roughly 0.0000004 kg of CO2, in contrast, a Bitcoin transaction emits 338 tons of CO2”.
Algorand also focuses on the social and governance ethics from the ESG framework, aiming to bank the 1.7 billion unbanked individuals worldwide and improve social equality.
Another thing to note about Algorand is that its blockchain architecture leverages relay and participation nodes to remain highly scalable, decentralized, and secure without sacrificing sustainability.
The ALGO price is amid a long-term downtrend. However, it has recently approached a macro key level. If it begins to bounce from here, it will form a double bottom pattern and potentially see a strong movement upwards.
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Filed under: Bitcoin - @ June 9, 2023 4:58 pm